Top 150+ Solved Industrial and Company Law MCQ Questions Answer
Q. If the company is not in a position to pay its debts and the directors make no declaration of solvency it is called-
a. Members Voluntary Winding up
b. Creditors Voluntary Winding up
c. Compulsory Winding Up
d. Voluntary Winding Up by the Supervision of the Tribunal
Q. The duties of the Official Liquidator includes-
a. To make a list of Creditors
b. To keep proper books for making entries or recording minutes of the proceedings at meetings
c. To summon general meetings of creditors and contributories, in order to find out their wishes
d. All of the above
Q. The act is not held oppressive when there is:
a. Mere inefficiency on the management
b. Unreasonable conducts of directors of a private company refusing to register transfer of some shares
c. Majority shareholders of a company engaged in forward contract business
d. Majority of shareholders tries to force an unwilling minority to invest their money in new and risky objects.
Q. In the administration of the affairs of the company, who determine the fate of the company:
a. Minority shareholders
b. Directors
c. Majority shareholders
d. Chairman
Q. In order to prevent the majority from misusing their power and to ensure justice to minority shareholders, certain exceptions have been admitted. Which of the following is among the exceptions:
a. Acts supported by insufficient majority
b. Acts which are ultra vires
c. Wrongdoers in control
d. All the above
Q. The following persons may apply to the Company Law Board for relief in case of oppression & mismanagement:
a. In the case of a company having a share capital not less than 100 members of the company
b. In the case of a company not having a share capital not less than 1/5th of the total number of its members
c. By an order of the Central government
d. All of the above
Q. A company may be wound up by the Court by:
a. Special resolution
b. Inability to pay debts
c. Default
d. All of the above
Q. Which section provides for voluntary winding up of a company
a. Section 484
b. Section 348
c. Section 224
d. Section 228
Q. The rule of “Majority shall prevail” was inferred from which famous case law
a. Reylands v/s Fletcher
b. Mohinibibis v/s Dharmodas Ghose
c. Balfour v/s Balfour
d. Foss v/s Horbottle
Q. Which of the following is an act of oppression & mismanagement?
a. Continuous losses to the company in spite of the efforts by the members and directors
b. Payment of no dividend or low dividend
c. Payment of salary to the directors and not declaring the dividend
d. Sale of asset for the benefits of directors themselves
Q. Winding up by the members themselves without the intervention of the court
a. Voluntary winding up
b. Compulsory winding up
c. Members winding up
d. None of the above
Q. Who can apply for winding up?
a. The Company
b. Any Creditor
c. Any Contributory
d. All of the above
Q. For winding up,the companies act provides that in each High Court ther shall be an officer known as the official liquidator appointed by the
a. Central Government
b. State Government
c. Municipal Administration
d. None of the Above
Q. Which of the following is applicable in case of winding up of a company?
a. Companies Act,2013
b. Insolvency and Bankruptcy Code,2016
c. Both a and b
d. Neither (a) nor (b)